Laboratory Information Systems Market by Type, Delivery Mode & End Users is Estimated to Reach $1,806.1 Million by 2019 - New Research Report by MarketsandMarkets
(PRWEB) November 26, 2014 -- The report “Laboratory Information System/LIS Market by Type (Standalone, Integrated), Delivery Mode (On-premise, Hosted, SaaS), End User Labs (Clinical, Molecular Diagnostic, Blood Bank, Anatomic Pathology) & by Component (Software, Services) - Global Forecast to 2019” provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the LIS market along with the estimates and forecasts of the revenue and market growth.
Browse 85 market data tables and 50 figures spread through 162 pages and in-depth TOC.
http://www.marketsandmarkets.com/Market-Reports/laboratory-information-system-market-232312738.html
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The global market is expected to reach $1,806.1 million by 2019 from the estimated $1,175 million in 2014, growing at a CAGR of 9% from 2014 to 2019. The market is segmented on the basis of product, component, delivery mode, end user, and geography.
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The global Laboratory Information System market involves various products that help in efficient management of the laboratory workflow process. This market is driven by several factors which include rising need to integrate healthcare systems, increasing demand for molecular diagnostic tests, rising aging population and chronic diseases, resulting in greater number of diagnostic tests, and increasing government investments to support the implementation of LIS solutions. The relatively untapped Asian market and increasing popularity of cloud-based LIS have opened an array of opportunities for growth of the market. However, high costs of laboratory information system solutions, high costs of maintenance and services, and dearth of skilled HCIT professionals are some of the major factors that restrain the growth of this market.
Major factors driving growth of this market include a growing need to integrate healthcare systems, rising incentives of the federal government to support adoption of LIS, advances in the molecular diagnostics field, and a rising aging population and chronic diseases that result in a larger number of diagnostic tests. However, high cost of LIS solutions, high maintenance and service expenses, and lack of trained HCIT professionals may hinder the growth of this market.
Based on geography, the global market is segmented into North America, Europe, Asia, and Rest of the World (RoW). North America is expected to account for the largest share of the market by the end of 2014. The large share of this region can be attributed to various factors such as huge pressure to cut down the healthcare spending, growing demand to integrate healthcare systems, need to improve the quality of healthcare services, and rising government support and incentives especially in the U.S. leading to an increase in the adoption of laboratory information systems.
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Prominent players in the market are Cerner Corporation (U.S.), Sunquest Information Systems (U.S.), Medical Information Technology (Meditech) (U.S.), SCC Soft Computer (U.S.), EPIC Systems Corporation (U.S.), McKesson Corporation (U.S.), CompuGroup Medical (Germany), Merge Healthcare (U.S.), Orchard Software (U.S.), and Computer Programs and Systems Inc.(U.S.). Other players in this market include Comp Pro Med (U.S.), Psyche Systems (U.S.), TechniData America (U.S.), HEX Laboratory Systems (U.S.), and Siemens Medical Solutions (U.S.).
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